6,903 Shares in Pinterest, Inc. (NYSE:PINS) Purchased by Consolidated Planning Corp

Consolidated Planning Corp bought a new position in Pinterest, Inc. (NYSE:PINS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,903 shares of the company’s stock, valued at approximately $256,000.

A number of other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in Pinterest by 18.2% during the fourth quarter. Russell Investments Group Ltd. now owns 444,512 shares of the company’s stock valued at $16,540,000 after purchasing an additional 68,414 shares during the period. Headlands Technologies LLC purchased a new stake in Pinterest during the fourth quarter valued at approximately $742,000. Truist Financial Corp raised its position in Pinterest by 8.9% during the fourth quarter. Truist Financial Corp now owns 66,955 shares of the company’s stock valued at $2,480,000 after purchasing an additional 5,483 shares during the period. Semanteon Capital Management LP purchased a new stake in Pinterest during the fourth quarter valued at approximately $1,044,000. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in Pinterest by 28.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 47,865 shares of the company’s stock valued at $1,773,000 after purchasing an additional 10,655 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares in the company, valued at $1,055,077.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the transaction, the director now owns 74,215 shares in the company, valued at $2,789,741.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. Insiders sold a total of 184,471 shares of company stock worth $6,525,231 over the last 90 days. Corporate insiders own 6.85% of the company’s stock.

Pinterest Stock Up 4.0 %

NYSE PINS traded up $1.32 on Friday, reaching $33.96. The stock had a trading volume of 12,886,057 shares, compared to its average volume of 6,671,289. The firm has a market capitalization of $23.06 billion, a price-to-earnings ratio of -565.91, a P/E/G ratio of 4.65 and a beta of 0.99. Pinterest, Inc. has a 12-month low of $20.60 and a 12-month high of $41.60. The stock has a fifty day moving average price of $34.56 and a two-hundred day moving average price of $34.19.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. Sell-side analysts forecast that Pinterest, Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on PINS. Evercore ISI increased their price objective on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Piper Sandler reiterated an “overweight” rating and issued a $48.00 price objective on shares of Pinterest in a report on Tuesday, March 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price objective on shares of Pinterest in a report on Friday, February 9th. Stifel Nicolaus lifted their price objective on Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Finally, BMO Capital Markets initiated coverage on Pinterest in a report on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.68.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.